The Need for Islamic Bank
There are many banks all around the world. You sometime get worried how would you make it sure that you use Islamic banking. It is a banking activity that is consistent with principles of Islamic law. The main idea is to implement the Islamic economics. The main difference is that Islam prohibits the payment or acceptance of specific interest or fees for the loans. Today most of the banks around us are totally non-Islamic in true sense. As they charge interest on the loans.
Today there is the need for Islamic Bank- A bank that totally implements the trade rule and loan regulations. What generally are the criteria of yours when selecting the bank for you? You go for more profit; you find some good life long policies, or something else? If you are a Muslim, you should avoid using a bank that incurs heavy taxes on you. Simply you should go for a complete interest free banking.
The need for Islamic bank is a necessity for us now. How do you think that the banking will be introduced? Some non-Muslim will bring this change? No. Some miracle will happen? No. So it’s you who will bring the change. You can bring thee change if you keep it as a determinant Muslim. You are no less than anyone in this world and obviously the banking system suggested rather introduced by Islam is the best one.